Consumer Stocks Climb As Traders Bet On "Wealth Effect" - Consumer Roundup

Features Dow Jones Newswires

Shares of retailers and other consumer-services companies rose as traders bet the sector would benefit from the "wealth effect" created by rising home and share prices. General Mills shares rose after the food processor's earnings topped Wall Street estimates, even as its new chief executive said the company would try to compensate for falling sales of yogurt. Supervalu shares rose after analysts at brokerage RBC said the competitive threat to the supermarket chain posed by Amazon.com's planned purchase of Whole Foods was overstated.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 28, 2017 16:43 ET (20:43 GMT)